§5318A. Special measures for jurisdictions, financial institutions, international transactions, or types of accounts of primary money laundering concern — Inbound Citations
31 U.S.C. § 5318A
Cited by 21 provisions in release 119-102.
Citations to 31 U.S.C. § 5318A as a whole
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(1) require domestic financial institutions and domestic financial agencies to take 1 or more of the special measures provided for in section 9714(a)(1) of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116–283; 31 U.S.C. 5318A note); or
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(c) The exemptions from, and prohibitions on, search and disclosure referred to in section 9714(c) of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116–283; 31 U.S.C. 5318A note) shall apply to any report or record of report filed pursuant to a requirement imposed under subsection (a). For purposes of section 552 of title 5, this subsection shall be considered a statute described in subsection (b)(3)(B) of such section.
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(d) The penalties referred to in section 9714(d) of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116–283; 31 U.S.C. 5318A note) shall apply to violations of any order, regulation, special measure, or other requirement imposed under subsection (a), in the same manner and to the same extent as described in such section 9714(d).
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(e) The Secretary of the Treasury may bring a civil action to enjoin a violation of any order, regulation, special measure, or other requirement imposed under subsection (a) in the same manner and to the same extent as described in section 9714(e) of the National Defense Authorization Act for Fiscal Year 2021 (Public Law 116–283; 31 U.S.C. 5318A note).
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(A) The terms “account”, “correspondent account”, and “payable-through account” have the meanings given those terms in section 5318A of title 31.
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(1) On November 21, 2011, the Secretary of the Treasury issued a finding under section 5318A of title 31 that identified Iran as a jurisdiction of primary money laundering concern.
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(b) The financial sector of Iran, including the Central Bank of Iran, is designated as a primary money laundering concern for purposes of section 5318A of title 31 because of the threat to government and financial institutions resulting from the illicit activities of the Government of Iran, including its pursuit of nuclear weapons, support for international terrorism, and efforts to deceive responsible financial institutions and evade sanctions.
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(1) The terms “account”, “correspondent account”, and “payable-through account” have the meanings given those terms in section 5318A of title 31.
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(3) The terms “correspondent account” and “payable-through account” have the meanings given those terms in section 5318A of title 31.
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(4) The terms “correspondent account” and “payable-through account” have the meanings given those terms in section 5318A of title 31.
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(1) The terms “account”, “correspondent account”, and “payable-through account” have the meanings given those terms in section 5318A of title 31.
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(B) apply any applicable special measures described in section 5318A of title 31;
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(1) Not later than 180 days after February 18, 2016, the Secretary of the Treasury, in consultation with the Secretary of State and the Attorney General, and in accordance with section 5318A of title 31, shall determine whether reasonable grounds exist for concluding that North Korea is a jurisdiction of primary money laundering concern.
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(1) The term “correspondent account” has the meaning given that term in section 5318A of title 31.
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(1) The terms “account”, “correspondent account”, and “payable-through account” have the meanings given those terms in section 5318A of title 31.
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(3) The terms “correspondent account” and “payable-through account” have the meanings given those terms in section 5318A of title 31.
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(d) A financial institution or agency that violates any provision of subsection (i) or (j) of section 5318, or any special measures imposed under section 5318A, or any regulation prescribed under subsection (i) or (j) of section 5318 or section 5318A, shall be fined in an amount equal to not less than 2 times the amount of the transaction, but not more than $1,000,000.
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(1) involves an entity found to be a primary money laundering concern under section 5318A or the regulations promulgated under this title; and
Citations to §5318A(b)
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(2) If the Secretary of the Treasury determines under paragraph (1) that reasonable grounds exist for concluding that North Korea is a jurisdiction of primary money laundering concern, the Secretary, in consultation with the Federal functional regulators (as defined in section 6809 of title 15), shall impose 1 or more of the special measures described in section 5318A(b) of title 31 with respect to the jurisdiction of North Korea.
Citations to §5318A(b)(5)
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(2) violates the prohibitions or conditions prescribed under section 5318A(b)(5) or the regulations promulgated under this title.
Citations to §5318A(e)(1)(B)
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(C) The term “correspondent account” has the same meaning as in section 5318A(e)(1)(B).